Needless to say, housing in Bengaluru is extremely expensive, and finding a decent place to rent or buy can be a real challenge. Recently, a Canadian man living in India sparked a discussion online after expressing shock over the city's rental norms, particularly the requirement of high security deposits. Taking to X, Caleb Friesen shared a screenshot of a property listing for a 3BHK apartment in the city's upscale Diamond District in Domlur. The rent? Rs 1.75 lakh a month. But it was the security deposit, a staggering Rs 19.25 lakh, that left him baffled.
"Rs 19 lakh for security deposit! absolutely bonkers what landlords are expecting these days, I could literally buy a new Mahindra Thar for less than this deposit. anyone know of a place in/around Indiranagar with 2-3 months deposit only? rent price range Rs. 80 to 1 lakh," he wrote while sharing the picture of the property listing.
Take a look below:
The post has gone viral on X, garnering more than 43,000 views. It has sparked a discussion about Bengaluru real estate and rental prices.
"I'd say that you should be prepared to get your hopes quashed with your requirement. House renting is a mafia in this city," wrote one user.
"This is why some finfluencers say that buying houses is a waste of money. According to them paying high amounts as interest free security deposit is better than paying EMIs!" commented another.
"I was thinking about moving to Bangalore after I left Chennai. But, after 1st round of interview with that office in based in Bangalore I checked properties around. All of them have sequrity diposit more than my salary. So, dropped idea of moving to Bangalore," shared a third user.
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"So landlords are demanding a literal kidney's worth of money for deposit. What a joke!!" expressed another.
"Actually he is being nice here. It's 10 times the rent in Bangalore. Which is 21 lacs. Crazy!" one user wrote.
The post also prompted some hilarious responses. "Don't buy a Thar. That's for special folks only," quipped one user. "Negotiable rent and non-negotiable deposit!" Jokingly said another.
